BKD - HCA to acquire a majority stake in Brookdale's health care services unit

Brookdale Senior Living (BKD) announced an agreement with HCA Healthcare (HCA) for the sale of 80% of the equity in Brookdale Health Care Services, its home health, hospice, and outpatient therapy segment.The acquisition by HCA for $400M will value Brookdale Health Care Services at $500M. Per the terms of the agreement, Brookdale will retain 20% equity interest in the joint venture.The transaction follows two recent deals by Brookdale which were identified by the company as its ‘ongoing efforts to drive meaningful shareholder value.’In January 2020 it disclosed the sale of its Entry Fee CCRC venture interest to Healthpeak Properties, and in July 2020 the company announced a lease renegotiation with Ventas.

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HCA to acquire a majority stake in Brookdale’s health care services unit